UK Market Webinar: Is Sterling Turning the Corner?
A quiet week of data releases is compensated for by a handful of Bank of England speakers who may give their thoughts on the slight uptick in UK economic data. While the US dollar has eased back marginally from its recent highs, the greenback should continue to push ahead in the medium-term making GBPUSD unattractive as a Sterling long position. However, opportunities may arise in other GBP-pairs including the New Zealand dollar and the Canadian dollar.
Other trading topics covered include –
- GBPUSD trades marginally higher after hitting a 1.3200 low recently
- US dollar strength may weigh on the FTSE 100 but the domestically-focused FTSE 250 may have more room to push higher.
- Traders should monitor Bank of England speeches and Brexit updates.
- If you missed this webinar and would like to know about future events, you can see the full DailyFX webinar schedule here.
DailyFX has a vast amount of updated resources to help traders make more informed decisions. These include a fully updated Economic Calendar, Educational and Trading Guides and the constantly updated IG Client Sentiment Indicator to help you make more informed trading decisions.
--- Written by Nick Cawley, Analyst
To contact Nick, email him at firstname.lastname@example.org
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.